Jan 25, 2021   SOURCE: PR NewsWire

Surging Cases of Cancer to Drive Growth of the Global Radiodermatitis Market: TMR

ALBANY, N.Y., Jan. 25, 2021 /PRNewswire/ -- Radiodermatitis, also known as radiation dermatitis, refers to a cutaneous reaction that is caused during or after radiotherapy given to a cancer patient. A surge in the incidences of cancer worldwide is estimated to drive the growth of global radiodermatitis market over the forecast timeframe, from 2019 to 2027. In most of the cancer patients, this condition occurs at either during the process or at the initial step of radiotherapy. Various symptoms, such as skin rash, pigmentation, flaking, lesions, and dry papery skin are usually observed in such conditions. As many cancer patients undergoing radiation therapy suffers from the adverse effect of the treatment process, the global radiodermatitis market is anticipated to gather momentum over the projection timeline. There has been augmented adoption of radiodermatitis products in an effort to better cancer patients' quality of life. This is likely to drive the growth of the global radiodermatitis market over the analysis timeframe, from 2019 to 2027.

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Innovation in product offerings is triggered by a surge in the incidences of cancer. It has also resulted in increasing mergers and acquisitions, collaborations between industry institutes and industry academia, partnerships and agreements between various companies, improved access to healthcare, and advent of new players. Such strategic moves are expected to work in favor of the global radiodermatitis market over the projection timeline, from 2019 to 2027.

Expanding at a growth rate of ~3.3% CAGR, the global radiodermatitis market is anticipated to achieve considerable market value by 2027. The market is expected to be primarily driven by augmented prevalence of cancer across the globe.

Key Findings of Radiodermatitis Market Study

High Prevalence of Certain Types of Cancer to Accelerate Demand in the Market

According to the estimates of World Health Organization (WHO), the international UN agency for international public health, there will be around 22 million new cancer cases by 2032. In addition to that, it is anticipated that certain types of cancer, such as head and neck cancer, cervical cancer, and breast cancer, will witness accelerated rate of occurrences. Change in lifestyle habits and lifestyle conditions, such as obesity, are anticipated to increase the risk of breast cancer and lung cancer. Patients suffering from these cancers go through chemotherapy procedures during their treatment, which leads to increased incidences of dermatitis caused by radiation. This factor is likely to bode well for the global radiodermatitis market over the projection timeline.

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High Cost of Cancer Treatment and Associated Products to Cause Financial Burden

In developing nations, the burden of cancer treatment is a cause of much concern. High cost of such treatment procedures often results in limited financial resources. As such, high cost of various products, such as silicone dressings and honey-impregnated dressings, is estimated to pose a challenge to honey-impregnated dressings in the near future. On the other hand, emergence of economically priced locally made dressings in many of the developing countries is anticipated to impede growth of expensive and branded dressings.

Surging Cases of Cancer Present Lucrative Growth Opportunities in Asia Pacific

Asia Pacific is one of the leading regions in the global radiodermatitis market owing to the continuous efforts made by the key players to diminish cost and consistent product innovations in the region. Increased per capita income and rising demand for dressings and topical agents in the region is anticipated to drive the demand for radiodermatitis products in the near future. With surging cases of cancer in the region, there exist high unmet medical needs in the Asia Pacific region. These factors are estimated to accelerate growth of the Asia Pacific region over the forecast timeframe, from 2019 to 2027.

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Radiodermatitis Market: Key Driving Factors 

    --  Augmented emphasis is given on R&D activities to figure out a standard
        treatment procedure to find a standard relevant treatment. This factor
        is foreseen to foster growth of the global radiodermatitis market.
    --  High cost of cancer treatment and radiation therapies is estimated to
        pose a threat to the development of the global radiodermatitis market.

Explore Transparency Market Research's award-winning coverage of the global Healthcare Industry:

Radiopharmaceutical Market: https://www.transparencymarketresearch.com/radiopharmaceuticals-market.html

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